Explore Newer Ways of Generating Revenue for Your NGO

There is also a limit to how much an NGP can extract out of conventional sources of funds like membership fees or service charges. Exploring the other sources of revenue is where they can discover the significance of non-dues revenue. The organizations treat the type of revenue as a secondary source of generating income, but it is the support for NGOs other than their regular grants and supports. Even though most organizations are aware of non-dues revenue, what they usually miss is to move beyond the basics. You have to look for a fresh source as that continually is the only way you can make the best of opportunities available for you. Here is a list of options you can explore to find more funding sources for nonprofit organizations:

1. Affinity programs: This is a type of sponsorship that will benefit both parties involved. Think of it as a business partnership where parties to the agreement want to work together for their mutual benefit. 

2. Online Fundraisers: Hosting a fundraiser online is an effective and convenient way of creating a fresh stream of revenue for your organization. The fact that they can be accessed by people from any part of the world is the foremost advantage of this method. This low-cost alternative can increase the available funds for NGOs without attaching a hefty cost to their efforts.

3. Merchandise: It may be a good idea for an NGO to consider selling to its members. They can create products and tie-up with branded merchandise for revenue generation. It often doubles as a marketing opportunity because the representation of your brand on items like bags, shirts, and mugs can get the conversation going about your work and events.

4. Newsletter: Is there a monthly newsletter that you send out to the members? It is best to start working on it right away as newsletter advertisements can be one of the best funding sources for nonprofit organizations. The ad space will also present as an opportunity for your organization to promote brands and companies that agree with your vision and policies. The consistent content created in the form of the newsletter will ensure that you present the right kind of narrative about your work and projects. In fact, not only with the newsletter this option can also be explored with your website or blog or explore the social media to share the newsletter.

5. Paid workshops or training:  Exploring different ways of providing the service is imperative to generate a stable source of income. Your organization can create events like paid training or workshops program where you generate revenue by teaching a productive skill to the interested candidates. Find out the interests of your members and help them advance in their fields by creating an opportunity for them to avail of the right training in that direction. It could be about their professional career, which itself calls for variety like writing or public speaking. You can also avail the option of opening up a career center to increase your non-dues revenue.

Report this Page